Property and Construction Team of the Year: Eversheds
'A complex and challenging project with good evidence of innovation and proactive advice,' said one of the judges
June 23, 2015 at 07:03 PM
2 minute read
Highly commended: DLA Piper
Finalists: Al-Ansari & Associates • Allen & Overy • Charles Russell Speechlys • King & Wood Mallesons • Pinsent Masons
Eversheds' role in the renegotiation of a contract to operate the Dubai Metro made it the outstanding entry in this category.
Opened in 2009, the $8bn (£5.2bn) transport system is operated and maintained by Serco. With the contract due for renewal, Eversheds was instructed by the Dubai Roads and Transport Authority (RTA) to negotiate the concession agreement and run a competitive tender should one be needed.
Over a six-month period a new contract was successfully negotiated with documentation finalised in February 2014. Since that point Eversheds has continued to be instructed by the RTA on an ad-hoc basis relating to the concession agreement, in addition to matters relating to the extension of the existing line. In doing so, the team has negotiated potentially difficult local laws that could have placed limitations on the RTA's authority to carry out certain real estate developments.
"A complex and challenging project with good evidence of innovation and proactive advice," said one of the judges.
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